Electric Aircraft Market Analysis, Size, Business Growth, Trends and Future Scenario by 2027

The electric aircraft market is driven by shift toward autonomous system. The electric power systems are highly reliable during engine failures, which majorly drive the growth of the electric aircraft market. Moreover, electric aircrafts are associated with optimized performance, reduced gas emissions, and decreased MRO cost. These factors further contribute toward the growth of the electric aircraft market. Furthermore, the increase in demand for fuel-efficient aircraft is also expected to drive the market growth.

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Electric aircrafts are solely powered by electric motors, which drive the thrust generating propellers or lift-generating rotors. Other components that are used apart from electric motors include ground power cables, ultra-capacitors, fuel cells, solar cells, batteries and power beaming. The new batteries are commonly used in aviation industry owing to its relatively high capacity, and light and easy usage properties as old batteries were heavy and inconvenient. With availability of several rechargeable batteries and lighter batteries due to technological advancements, the use of batteries has become easier, which results in increased efficiency and reduced gas emissions in electric aircrafts. Furthermore, the risk of explosion, fire incidents, and noise and air pollution are reduced to great extent.

However, low power to weight ratio, lack of technical skill-set, and short-distance travelling are some of the factors that limit the market growth. In addition, the regulatory issues and other macro-economic factors also hinder the electric aircraft industry growth.

Electric aircraft market is segmented based on component, technology, product, manufacturing process, system, aircraft type, and region. Based on component, the market is divided into battery, electric motor and others. Based on technology, it is bifurcated into hybrid and all electric. Based on product, the market is categorized into cascade, pivot door, and bucket. Manufacturing process segment is further divided into hand layup, ATL/AFP and resin infusion. Furthermore, systems segment is classified into power electronics, thermal management, safety system & advanced Component and energy storage devices. Based on aircraft type, the market is segmented into ultralight aircraft, light jets, and regional jets. Region-wise, the electric aircraft market analysis is done across North America, Europe, Asia-Pacific and LAMEA (Latin America, Middle East and Africa).

Key market players operating in electric aircraft industry are Airbus S.A.S., The Boeing Company, Safran S.A., Volta Volar, Inc., Raytheon Company, United Technologies Corporation, Thales Group, Elektra Solar GmbH, PIPISTREL d.o.o., and Lockheed Martin Corporation.

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KEY BENEFITS FOR STAKEHOLDERS:

* The electric aircraft market size has been analyzed across all regions
Porter's five force analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building
* The report outlines the current market trends and future scenario of the electric aircraft market size from 2018 to 2026 to understand the prevailing opportunities and potential investment pockets.
* Major countries in the region have been mapped according to their individual revenue contribution to the regional market
* The key drivers, restraints, and market opportunities and their detailed impact analysis are elucidated in the study
* The market analysis covers in-depth information of major industry participants

KEY MARKET SEGMENTS

Component
* Battery
* Electric Motor
* Others

Technology
* Hybrid
* All Electric

Product
* Cascade
* Pivot Door
* Bucket

Manufacturing Proces
* Hand Layup
* ATL/AFP
* Resin Infusion

System
* Power Electronics
* Thermal Management
* Safety System & Advanced Component
* Energy Storage Devices

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